A Cure for Financial Dementia

From sprott.com

In his monograph “A Short History of Financial Euphoria”, economic historian John Kenneth Galbraith observed, "For practical purposes, the financial memory should be assumed to last, at a maximum, no more than 20 years. This is normally the time it takes for the recollection of one disaster to be erased and for some variant on previous dementia to come forward to capture the financial mind.” It has been almost 20 years since the Global Financial Crisis restored a measure of sobriety to the financial markets. It is our thinking that the current cycle of market mania is due for a comeuppance. Resistance to a ... (full story)